Global Medication Adherence Market- By Type ; By Medication ; By Region ; Trend Analysis, Competitive Market Share & Forecast, 2018-2028

Description

Global Medication Adherence Market to Surpass USD 5.5 Billion Mark by 2028

The growth of the Medication Adherence market can be attributed to the rising awareness about Medication Adherence due to growing programmes and initiatives organized with the aim to educate people about the significance of medical adherence. Moreover, factors like the ageing population, increment in the healthcare expenditure and pharmaceutical usage, and the surge in the prevalence of cardiovascular diseases are likely to propel the market growth over the forecast period..

The global Medication Adherence market was worth USD 2,668.1 million in 2021, and it is further projected to reach USD 5,562.3 million by 2028, exhibiting a CAGR of 11.1% during 2022-2028 (forecast period). This can be attributed to the rising awareness about Medication Adherence due to growing programs and initiatives organized to educate people about the significance of medical adherence. Moreover, factors like the aging population, increment in healthcare expenditure and pharmaceutical usage, and the surge in the prevalence of cardiovascular diseases are likely to propel the market growth over the forecast period.

Rising Awareness about Medication Adherence

The rising awareness about medication adherence, on account of the patient saving programs being initiated, is a key tendency being witnessed in the medication adherence market. Medication adherence programs aim to advance patient compliance and assist pharmacists in recognizing the patients who are missing out on the timely intake of their medicines. For instance- ESPACOMP has announced that it will organize its 26th annual conference from 17th to 19th November 2022 in Berlin (Germany). The theme of this year's conference will be: "Medication Adherence and Patient Safety." Governments and non-government organizations sponsor conferences and events across the year to tutor patients and caregivers regarding medication adherence. According to World Health Organization (WHO), adherence to long-term pharmacotherapies is only 50%. Medication non-adherence has a crucial negative impact on health outcomes. The rising trend of an accelerated aging society in the 21st century has further augmented the demand for Medication Adherence, thereby driving the market growth over the forecast period.

The Cardiovascular Segment Accounted for the Largest Share in terms of application

The global Medication Adherence market has been segmented into cardiovascular, central nervous systems, diabetes, oncology, gastrointestinal, musculoskeletal, and others. Cardiovascular disorders account for the largest market share of the Medication Adherence market in 2021, owing to the augmented occurrence of cardiovascular ailments as a result of the population's unhealthy lifestyle. Moreover, this category is also predicted to expand at the fastest rate in the medication adherence market over the forecast period. Chronic diseases and illnesses such as heart failure and myocardial infarction require adherence to long-term therapy in order to reduce morbidity and mortality. Consequently, the high frequency of medication non-adherence among cardiac patients has resulted in rising demand for medical adherence devices from this segment, thus propelling the market growth of the segment.

Impact Of COVID-19 On the Global Medication Adherence Market

The emergence of the COVID-19 pandemic has significantly impacted the global patient engagement solutions market. The medical adherence strategy was helpful during the epidemic since patients required prompt treatment. Due to medicine shortages in countries worldwide, there is a significant growth potential for COVID-19 drug management. The resulting conditions have presented huge opportunities for the manufacturers of COVID-19 management drugs. Thus, the pharmaceutical and biotechnology industries are likely to experience momentous growth in the forthcoming years. This, in turn, is likely to have a substantial impact on the global medical adherence market.

North America Dominated the Global Medication Adherence Market in 2021

The North American region dominates the global medication adherence business mostly due to the extensive research and development (R&D) expenditures, expanding healthcare costs, as well as an increase in the prevalence of chronic diseases. Centers for Disease Control and Prevention (CDC) stated that chronic illnesses constitute seven out of the ten leading causes of mortality in the United States in 2019. The region is experiencing an increment in the aging population, which is also contributing positively to the market growth in the area. Northern America is expected to witness a considerable increase in its elderly population by 2050, as per the 2019 UN Department of Economic and Social Affairs (UNDESA) study on the world population, which will boost the demand for medication adherence. Moreover, the Asia-Pacific region is expected to grow with a considerable growth rate over the forecast period. The medical adherence devices market in the region is observing a gigantic surge due to the altering tendency of the customers and the rising geriatric populace leading to rising cases of chronic illness in this region.

Competitive Landscape

The global Medication Adherence market is characterized by many local, regional, and global vendors. The key players operating in the global Medication Adherence market are HealthEra, McKesson Corporation, Health Beacon, eLucid mHealth, Tinylogics, Johnson & Johnson Services Inc, Renesas, Qualcomm Incorporated, Adherence Solutions, Allscripts Healthcare Solutions, SMRxT Inc, Vaica, Health Window, Seamless MD, Merck KGaA, Datos Ltd, AstraZeneca, Helium Health, Cardinal Health, Catalia Health, and other prominent players. The players maintain their dominance in the market by investing in research and development activities, integrating the latest and advanced technologies into their products, and launching improved products for the customers.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the global Medication Adherence market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global Medication Adherence market ¬along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the market's growth drivers, challenges, and competitive dynamics.

Product Code: BWC22283

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Research Methodology

2.1. Qualitative Research
- 2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
- 2.3.1. Secondary Research
- 2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Region
2.5. Assumption & Limitation

3. Executive Summary

4. Global Medication Adherence Market Insights

4.1. Industry Value Chain Analysis
4.2. DROC Analysis
- 4.2.1. Growth Drivers
- 4.2.2. Restraints
- 4.2.3. Opportunities
- 4.2.4. Challenges
4.3. Technological Advancement/Recent Development
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
- 4.5.1. Bargaining Power of Suppliers
- 4.5.2. Bargaining Power of Buyers
- 4.5.3. Threat of New Entrants
- 4.5.4. Threat of Substitutes
- 4.5.5. Intensity of Rivalry

5. Global Medication Adherence Market Overview

5.1. Market Size & Forecast by Value, 2018-2028
- 5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
- 5.2.1. By Type
  - 5.2.1.1. Software Centric
  - 5.2.1.2. Hardware Centric
- 5.2.2. By Medication
  - 5.2.2.1. Cardiovascular
  - 5.2.2.2. Central nervous systems
  - 5.2.2.3. Diabetes
  - 5.2.2.4. Oncology
  - 5.2.2.5. Gastrointestinal
  - 5.2.2.6. Musculoskeletal
  - 5.2.2.7. Others
- 5.2.3. By Region
  - 5.2.3.1. North America
  - 5.2.3.2. Europe
  - 5.2.3.3. The Asia Pacific
  - 5.2.3.4. Latin America
  - 5.2.3.5. The Middle East and Africa

6. North America Medication Adherence Market

6.1. Market Size & Forecast by Value, 2018-2028
- 6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Medication
- 6.2.3. By Country
  - 6.2.3.1. United States
  - 6.2.3.2. Canada

7. Europe Medication Adherence Market

7.1. Market Size & Forecast by Value, 2018-2028
- 7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Medication
- 7.2.3. By Country
  - 7.2.3.1. Germany
  - 7.2.3.2. United Kingdom
  - 7.2.3.3. Italy
  - 7.2.3.4. France
  - 7.2.3.5. Spain
  - 7.2.3.6. Rest of Europe

8. The Asia Pacific Medication Adherence Market

8.1. Market Size & Forecast by Value, 2018-2028
- 8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Medication
- 8.2.3. By Country
  - 8.2.3.1. China
  - 8.2.3.2. India
  - 8.2.3.3. Japan
  - 8.2.3.4. South Korea
  - 8.2.3.5. Rest of Asia Pacific

9. Latin America Medication Adherence Market

9.1. Market Size & Forecast by Value, 2018-2028
- 9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Medication
- 9.2.3. By Country
  - 9.2.3.1. Brazil
  - 9.2.3.2. Mexico
  - 9.2.3.3. Rest of Latin America

10. The Middle East & Africa Medication Adherence Market

10.1. Market Size & Forecast by Value, 2018-2028
- 10.1.1. By Value (USD Million)
10.2. Market Share & Forecast
- 10.2.1. By Type
- 10.2.2. By Medication
- 10.2.3. By Country
  - 10.2.3.1. Saudi Arabia
  - 10.2.3.2. UAE
  - 10.2.3.3. South Africa
  - 10.2.3.4. Rest of Middle East & Africa

11. Competitive Landscape

11.1. List of Key Players and Their Offerings
11.2. Market Share Analysis, 2021
11.3. Competitive Benchmarking, By Operating Parameters
11.4. Key Strategic Development (Merger, Acquisition, Partnership.)

12. Impact of Covid-19 on Global Medication Adherence Market Industry

13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **

13.1. HealthEra
13.2. McKesson Corporation
13.3. Health Beacon
13.4. eLucid mHealth
13.5. Tinylogics
13.6. Johnson & Johnson Services Inc
13.7. Renesas
13.8. Qualcomm Incorporated
13.9. Adherence Solutions
13.10. Allscripts Healthcare solutions
13.11. SMRxT Inc
13.12. Vaica
13.13. Health Window
13.14. Seamless MD
13.15. Merck KGaA
13.16. Datos Ltd
13.17. AstraZeneca
13.18. Helium Health
13.19. Cardinal Health
13.20. Catalia Health

14. Key Strategic Recommendations

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List Of Figures

Figure 1: Global Medication Adherence Market Segmentation
Figure 2: Global Medication Adherence Industry Value Chain Analysis
Figure 3: Global Medication Adherence Market Size, By Value (USD Million), 2018-2028
Figure 4: Global Medication Adherence Market Share (%), By Type, By Value, 2018-2028
Figure 5: Global Medication Adherence Market Share (%), By Medication, By Value, 2018-2028
Figure 6: Global Medication Adherence Market Share (%), By Region, By Value, 2018-2028
Figure 7: North America Medication Adherence Market Size, By Value (USD Million), 2018-2028
Figure 8: North America Medication Adherence Market Share (%), By Type, By Value, 2018-2028
Figure 9: North America Medication Adherence Market Share (%), By Medication, By Value, 2018-2028
Figure 10: North America Medication Adherence Market Share (%), By Country, By Value, 2018-2028
Figure 11: Europe Medication Adherence Market Size, By Value (USD Million), 2018-2028
Figure 12: Europe Medication Adherence Market Share (%), By Type, By Value, 2018-2028
Figure 13: Europe Medication Adherence Market Share (%), By Medication, By Value, 2018-2028
Figure 14: Europe Medication Adherence Market Share (%), By Country, By Value, 2018-2028
Figure 15: The Asia-Pacific Medication Adherence Market Size, By Value (USD Million), 2018-2028
Figure 16: The Asia-Pacific Medication Adherence Market Share (%), By Type, By Value, 2018-2028
Figure 17: The Asia-Pacific Medication Adherence Market Share (%), By Medication, By Value, 2018-2028
Figure 18: The Asia-Pacific Medication Adherence Market Share (%), By Country, By Value, 2018-2028
Figure 19: Latin America Medication Adherence Market Size, By Value (USD Million), 2018-2028
Figure 20: Latin America Medication Adherence Market Share (%), By Type, By Value, 2018-2028
Figure 21: Latin America Medication Adherence Market Share (%), By Medication, By Value, 2018-2028
Figure 22: Latin America Medication Adherence Market Share (%), By Country, By Value, 2018-2028
Figure 23: The Middle East & Africa Medication Adherence Market Size, By Value (USD Million), 2018-2028
Figure 24: The Middle East & Africa Medication Adherence Market Share (%), By Type, By Value, 2018-2028
Figure 25: The Middle East & Africa Medication Adherence Market Share
Figure 26: The Middle East & Africa Medication Adherence Market Share (%), By Country, By Value, 2018-2028
Figure 27: Global Medication Adherence Market Share Analysis, 2021

List Of Tables

Table 1: Global Medication Adherence Market Size, By Type, By Value (USD Million), 2018-2028
Table 2: Global Medication Adherence Market Size, By Medication, By Value (USD Million), 2018-2028
Table 3: Global Medication Adherence Market Size. By Region, By Value (USD Million), 2018-2028
Table 4: North America Medication Adherence Market Size, By Type, By Value (USD Million), 2018-2028
Table 5: North America Medication Adherence Market Size, By Medication, By Value (USD Million), 2018-2028
Table 6: North America Medication Adherence Market Size (USD Million), By Country, By Value 2018-2028
Table 7: Europe Medication Adherence Market Size, By Type, By Value (USD Million), 2018-2028
Table 8: Europe Medication Adherence Market Size, By Medication, By Value (USD Million), 2018-2028
Table 9: Europe Medication Adherence Market Size (USD Million), By Country, By Value 2018-2028
Table 10: The Asia-Pacific Medication Adherence Market Size, By Type, By Value (USD Million), 2018-2028
Table 11: The Asia-Pacific Medication Adherence Market Size, By Medication, By Value (USD Million), 2018-2028
Table 12: The Asia-Pacific Medication Adherence Market Size (USD Million), By Country, By Value 2018-2028
Table 13: Latin America Medication Adherence Market Size, By Type, By Value (USD Million), 2018-2028
Table 14: Latin America Medication Adherence Market Size, By Medication, By Value (USD Million), 2018-2028
Table 15: Latin America Medication Adherence Market Size (USD Million), By Country, By Value 2018-2028
Table 16: The Middle East & Africa Medication Adherence Market Size, By Type, By Value (USD Million), 2018-2028
Table 17: The Middle East & Africa Medication Adherence Market Size, By Medication , By Value (USD Million), 2018-2028
Table 18: The Middle East & Africa Medication Adherence Market Size (USD Million), By Country, By Value 2018-2028
Table 19: List of Key Players and Their Offerings
Table 20: Competitive Benchmarking, by Operating Parameters
Table 21 HealthEra Company Overview
Table 22 HealthEra Financial Overview
Table 23 McKesson Corporation Company Overview
Table 24 McKesson Corporation Financial Overview
Table 25 Health Beacon Company Overview
Table 26 Health Beacon Financial Overview
Table 27 eLucid mHealth Company Overview
Table 28 eLucid mHealth Financial Overview
Table 29 Tinylogics Company Overview
Table 30 Tinylogics Financial Overview
Table 31 Johnson & Johnson Services Inc Company Overview
Table 32 Johnson & Johnson Services Inc Financial Overview
Table 33 Renesas Company Overview
Table 34 Renesas Financial Overview
Table 35 Qualcomm Incorporated Company Overview
Table 36 Qualcomm Incorporated Financial Overview
Table 37 Adherence Solutions Company Overview
Table 38 Adherence Solutions Financial Overview
Table 39 Allscripts Healthcare solutions Company Overview
Table 40 Allscripts Healthcare solutions Financial Overview
Table 41 SMRxT Inc Company Overview
Table 42 SMRxT Inc Financial Overview
Table 43 Vaica Company Overview
Table 44 Vaica Financial Overview
Table 45 Health Window Company Overview
Table 46 Health Window Financial Overview
Table 47 Seamless MD Company Overview
Table 48 Seamless MD Financial Overview
Table 49 Merck KGaA Company Overview
Table 50 Merck KGaA Financial Overview
Table 51 Datos Ltd Company Overview
Table 52 Datos Ltd Financial Overview
Table 53 AstraZeneca Company Overview
Table 54 AstraZeneca Financial Overview
Table 55 Helium Health Company Overview
Table 56 Helium Health Financial Overview
Table 57 Cardinal Health Company Overview
Table 58 Cardinal Health Financial Overview
Table 59 Catalia Health Company Overview
Table 60 Catalia Health Financial Overview